Bhel gains after winning new order

Bhel rose 1.07% to Rs 141.35 at 13:38 IST on BSE after the company said it bagged a main plant package contract worth Rs 1300 crore from NTPC.

The company made the announcement during trading hours today, 19 November 2013.

Meanwhile, the BSE Sensex was up 55.31 points, or 0.27%, to 20,906.05.

On BSE, 5.40 lakh shares were traded in the counter compared with average volume of 12.10 lakh shares in the past one quarter.

The stock hit a high of Rs 142.15 and a low of Rs 138.10 so far during the day. The stock hit a 52-week high of Rs 247.50 on 7 December 2012. The stock hit a 52-week low of Rs 100.35 on 20 August 2013.

The stock had underperformed the market over the past one month till 18 November 2013, sliding 5.47% compared with the Sensex's 0.15% fall. The scrip had, however, outperformed the market in past one quarter, rising 32% as against Sensex's 12.11% rise.

The large-cap company has an equity capital of Rs 489.52 crore. Face value per share is Rs 2.

Bhel said that it received a major order from NTPC for supply and installation of the main plant package for a power project in Uttar Pradesh, involving one thermal power generating unit of 500 megawatts (MW).

Valued at Rs 1300 crore, the order for the supply and installation of the steam generator, steam turbine generator and electrics package for the upcoming 500 MW Feroze Gandhi Unchahar Thermal Power Project (TPP), was received from NTPC BHEL Power Projects (NBPPL), a joint venture between NTPC and Bhel.

Bhel said the scope of work in the contract envisages design, engineering, manufacture, supply and erection and commissioning of steam generator, steam turbine generator and their auxiliaries; electrics and switchyard with associated civil works along with controls & instrumentation (C&I).

The key equipment for the project will be manufactured at Bhel's Trichy, Ranipet, Haridwar, Hyderabad, Bangalore and Bhopal Plants, while the company's power sector - Northern Region will be responsible for erection and commissioning of the equipment, Bhel said in a statement.

Bhel's net profit fell 64.2% to Rs 455.95 crore on 15.2% decline in net sales to Rs 8819 crore in Q2 September 2013 over Q2 September 2012.

Bhel said that the results for the quarter and half year ended 30 September 2013 includes financial results of HPVP unit (erstwhile BHPV). Consequent to this, impact of HPVP unit for and upto the quarter ended on 30 September 2013 includes turnover of Rs 16.69 crore and loss of Rs 191.35 crore before tax. The impact on Reserves & Surplus is reduction by Rs 311 crore, Bhel said. In view of this, figures for the current reporting period are not comparable with the previously reported period figures, Bhel added.

Bhel's order book stood at Rs 102300 crore as on 30 September 2013.

Bhel is the largest engineering and manufacturing enterprise in India in the energy related/infrastructure sector. The company caters to the core sectors including power, transmission, industry, transportation, renewable energy, oil & gas and defence.

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